Icahn Enterprises (NASDAQ:IEP) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.53 and traded as low as $7.01. Icahn Enterprises shares last traded at $7.05, with a volume of 854,050 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Icahn Enterprises in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Icahn Enterprises presently has an average rating of “Sell”.

Icahn Enterprises Trading Down 0.3%

The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -9.41 and a beta of 0.79. The business’s 50-day simple moving average is $7.25 and its two-hundred day simple moving average is $7.52. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 2.98.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Wednesday, August 5th. The conglomerate reported ($0.52) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.63). Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.04 billion.

Icahn Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Monday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 28.7%. Icahn Enterprises’s dividend payout ratio is currently -270.27%.

Institutional Investors Weigh In On Icahn Enterprises

Hedge funds have recently bought and sold shares of the stock. Paragon Capital Management Ltd purchased a new stake in shares of Icahn Enterprises during the second quarter worth approximately $74,000. Triumph Capital Management lifted its stake in Icahn Enterprises by 13.1% in the second quarter. Triumph Capital Management now owns 16,435 shares of the conglomerate’s stock worth $118,000 after acquiring an additional 1,900 shares during the last quarter. Ancora Advisors LLC acquired a new position in Icahn Enterprises during the 2nd quarter worth approximately $73,000. Next Level Private LLC acquired a new stake in shares of Icahn Enterprises in the 2nd quarter valued at $289,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Icahn Enterprises during the 1st quarter worth $47,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ:IEP) is a diversified holding company controlled by investor Carl C. Icahn. The company manages investments and operating businesses across several industries, with its activities spanning energy, automotive, food packaging, metals, real estate, home fashion and other sectors.

Its operating interests include CVR Energy, which is involved in petroleum refining and the marketing of transportation fuels, and CVR Partners, a producer of nitrogen fertilizers. Icahn Enterprises also owns or invests in businesses involved in automotive parts distribution and service, food packaging products, textile and home-furnishing products, and metals recycling.